Nottingham Building Society Conveyancing Panel Compliance Audit

Your firm can wait for Nottingham Building Society to commission a file audit or you can ask Lexsure to do a Nottingham Building Society panel compliance conveyancing audit.

Nottingham Building Society is probably one of the firm’s most valued clients for conveyancing work.

Are you 100% sure that you are adhering to the requirements as a firm on the Nottingham Building Society conveyancing panel?

As far as we are aware Lexsure is uniquely positioned to conduct a full lender panel compliance audit for your conveyancing files where Nottingham Building Society are the lending client.

Our full directory of Nottingham Building Society Handbook instructions gives us the ability to audit a law firms’ conveyancing files whilst on the Nottingham Building Society conveyancing panel retrospectively and in the same vein as Nottingham Building Society would.

Lexsure’s panel of expert assessors impartially check using propriety templates and Lender obligation archives whether each conveyancing matter breached your contractual obligations when the Certificate of Title was completed.

In the absence of your search company offering the service as part of your account management the fee for a Nottingham Building Society compliance panel audit is £1,975+VAT. Our team will audit eight remortgage or purchase files involving Nottingham Building Society, which we can stratify by tenure (e.g. leasehold) date or a multitude characteristics.

Once the fieldwork is completed, Lexsure will prepare a detailed findings for your transactions with Nottingham Building Society and a baseline risk score. We can also follow-up with you to set out our auditor’s findings and recommendations in a formal debrief. Audit follow-up can be scheduled. Lexsure will contact the managing partner to request the status of actions taken. No more than two lender conveyancing panel audits may be commissioned by a firm in a calendar year.

Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables you to select the date, time and location of a Nottingham Building Society conveyancing panel compliance audit. The system is available 24/7, which eliminates most instances where you have to wait for business hours to contact Lexsure to schedule or cancel a Nottingham Building Society panel compliance audit. Please note that before accepting a Nottingham Building Society conveyancing panel compliance review we have to conduct a conflict check. It may not be possible for Lexsure to conduct a Nottingham Building Society panel Handbook risk file audit

Nottingham Building Society Conveyancing File Audits : You have questions, we have answers

Are you able to conduct Lender Compliance Audits remotely as our conveyancing lawyers are not in the office?

Yes, subject to certain criteria which we will send you by way of email.

How experienced are the auditors who conduct Lexsure Lender Compliance Audits?

Appointed auditors have at least 25 years conveyancing experience (pre-dating the CML Lenders’ Handbook, The UK Finance Lenders' Handbook and Building Society Association Mortgage Instructions)

I spoke with a neighbouring practice who had commissioned an audit for their Nottingham Building Society conveyancing files but I was told by Lexsure that this was not possible for my firm due to a conflict of interest. Why would this be the case?

For further details click here.

I do not need the help of Lexsure for an Nottingham Building Society Handbook Compliance Audit, I I require a copy of the P2 requirements for Nottingham Building Society for a specific date. Is this something you can help with?

Subject to the date of the P2’s, we may be able to assist. Please contact us directly asking to speak to someone in the Lexsure Litigation Support Team.

What happens if or when you uncover breaches? Do you inform Nottingham Building Society or their panel managers?

This is a common question. Where a conveyancing file audit is commissioned by your firm and Lexsure discovers breaches, they are often easily categorised. Lexsure can not undo what has been done but we can suggest adjustments to the problematic parts of your risk prevention protocols and checklists. And we can advise on tools to help avoid recurrences with the aim of protecting your panel status.

Where commissioned by your firm Lexsure has no duty to report breaches to Nottingham Building Society and we will ensure the results of your audit are completely confidential.